BiggerPockets

House that I'm looking to wholesale:

4bd/1ba, 1725 sqft, unfinished basement, brick, 2 car garage

I looked for similar homes between 1500-2000 sqft, but couldn't find any. But these are what I came up with:

Comp #1

- 4bd,2.5 ba, 1125 sqft, finished basement, brick, 2 car garage
- 0.6 miles away, sold for 121,000 in 5/2010
- newly rehabbed, seems like it used to be a 1ba but 1.5 bath was added

Comp #2

- 4bd,1ba, 1248 sqft, unfinished basement, brick, 2 car garage
- 1 mile away, sold for 117,000 in 6/2010
- newly rehabbed

Comp #3

- 4bd,1 ba, 1196 sqft, finished basement, brick, 2 car garage
- 0.9 miles away, sold for 140,000 in 5/2010

Any feedback would be helpful, thanks.

They look like they could be but you have to make adjustments to them based on sq footage and additional bathrooms, etc.

Make sure your square footage is correct too.

Drive by them, and compare the homes and the streets.

For my market those comps are too far from the subject home. See here pricing can vary street to street (At least in center township-close to downtown Indianapolis) Now it may be different there, but I would question why you can't find comps closer to your property.

try going back a little further to see if anything has sold around the house (Under .5 miles). Again this may not fit your market, so take a trip out and see how they compare, and find out if houses are selling there...

Hi, any one or two of the comps are usable but you really need a larger home to set the parameters. All of the properties exceed 10% adjustmenst. FInd something within the past six months (if not move out to a year). I would rather see something closer in Sq.Ft. than style, for example a 1,800 ft ranch. Also, move out to the three mile mark from the subject. Using two within three miles and a smaller one above that is much closer would be better than having larger adjustments on properties that are closer to the subject. Bill

Darius - what search tool are you using for your comps? Just curious. Thanks

Similar in size and sf, not bad. What did you decided do with the home. We need more details. What did you put it under contract for. Comps are cool, but in the inside of the house is mush, you got some thinking to do. lol.